By CK Hutchison says ‘forced termination’ of Panama ports cut 1% off throughput
Despite Panama exit, port business’ earnings before interest, taxes, depreciation and amortisation up 4 per cent to HK$9.03 billion in first half
In its half-year financial results released on Thursday, the Li Ka-shing family-backed conglomerate for the first time quantified the impact of losing the ports after the Panama government nullified an operating contract and then took over the assets in late February.
Overall throughput fell by 1 per cent year on year to 43.6 million TEUs, or twenty-foot equivalent units, in the six-month period.
“An 8 per cent growth in storage income mainly contributed by Oman and Pakistan was fully offset by a 1 per cent reduction in overall throughput as a result of reduced volume from Panama operations following their forced termination in late February 2026,” it said in a statement.
Excluding Panama, throughput jumped by 3 per cent year on year, fuelled by terminals in Shenzhen’s Yantian, Shanghai and other facilities in Asia.
CK Hutchison said it also saw a slight benefit from the Middle East conflict, despite significant disruptions to shipments via the Strait of Hormuz.
Originally published on www.scmp.com — View original